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Albemarle to extend share buyback, raise dividend

3:01 PM MST | February 12, 2013 | Vincent Valk

Albemarle’s board has authorized the company to repurchase up to 15 million shares in a newly extended buyback program, up from 3.9 million shares remaining on its previous buyback program. Albemarle expects to buy back about 10% of its 89.3 million shares outstanding over the next 10–15months, the company says. Shares in Albemarle closed at $62.70 on 12 February.   Albemarle is also raising its quarterly dividend 20%, to 24 cts/share. The dividend will be payable on 1 April to shareholders as of 15 March. "Today's announcement reflects our...

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